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Pharmaniaga's 3Q17 pre-tax profit drops to RM15 million

pharmacy

Pharmaniaga Bhd's pre-tax profit for the third quarter ended Sept 30, 2017 (3Q17) fell to RM15 million from RM20 million in the same period last year mainly attributable to lower off-take for in-house products.

Revenue, however, rose by 12 % to RM575 million from RM515 million driven by increased orders from government's hospitals and double-digit growth from the group's operations in Indonesia, it said in a filing to Bursa Malaysia today.

In a statement today, Chairman Tan Sri Lodin Wok Kamaruddin said the group was on track to deliver new product offerings to both local and overseas markets for the coming years which would strengthen earnings potential, driven by the company's research and development.

"Towards this end, the government's initiatives in Budget 2018 are indeed laudable," he said.

He said from the total allocation of RM27 billion to provide quality healthcare services, RM2.5 billion has been allocated for medical supplies and RM1.6 billion for consumable and medical support items


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